1953-12-17 — Page 9

THE CHINA MAIL, THURSDAY, DECEMBER 17, 1953.

A BIG PUZZLE FOR A KING

TRADE and

Twelve modern American painters und sculptors are represented at an exhibition opened at Liljevalch's. Stockholm, arranged by the Muscum of Modern Art, New York, in co-operation with the National Museum to Stockholm. The exhibillon, which is under the patronage of HR.H. Prince Berlil, gives a representative chotee illuminating the im- portant trends in the present art life of the United States. The picture shows His Majesty the King of Sweden looking rather puzzled as he views one of the unusual works,

Central Press,

EQUAL PAY Aussie

CAMPAIGN

GETS A BOOST

By ALAN JOHNSON

Leaders of Brilsin's 600,000 civil

are increasing servants their campaign to secure equal pay for women.

A motion tabled in the House of Commons calls for "angible

further de progress without fay."

The motion is in the names of two Socialist MP-Mr Charles Pannell and Mr Douglas

More than 40 MP Houghton, have signed it.

leaflet selting out

history of the struggle

the

for

equal pay urges "steady pres-

sure" on MPs by letter, calls at committee rooms,

by lobbying.

COST £30 MILLIÓN.

by Oc

would

The cost of full implemente tion of equal pay in the civil service and puille services would be about £30 million, of which £20 million be chargeable to the

central Exchequer,

Union leaders say. however, intro- that if equal pay were cuced on e

gradual basis the cost would be much less.

FOOTNOTE-The Govern ment have told civil cervants that, although they agree to equal pay in principle, it can- not be introduetdi. Immediately because of the nation's econo- mic position.-London Exprcis Service

Menu Cards

Xmas Will Be Best

Since

War

Melbourne, Dec. 16.

For the nearly 9,000,000 inhabitants of Aus- tralia's sunbaked continent, this will be a boom Christmas-in terms of what is offered for the

money, probably the best since the war.

Almost, in fact, a "Royal" Christmas. For many of the lavish street and big store decorations have been in rehearsal for the festivities of the Queen's visit just over a month into the New Year. The wide selection of locally made and imported gifts offered to shoppers includes many suited or specially designed to commemorate the Royal visit.

Not for more than a decade has the Australian of average means been offered such a great array of gifts, ranging from futuristic British-made "space" toys for Junior to plainly modernistic labour-saving devices for the housewife.

tisements

Full page newspaper adver- the have plugged word "imported" and portrayed requisites perfumes and toilet from France, tools and toys from Germany, a host of lines from from Britain, porcelain Holland, pleregoods from Ire- land und Switzerland, emboss- ed leather from Italy, and food deltcaeles from most parts of the globe,

herce is out to woo the most reluctant buyer.

Credit has become the rule, with deposits rarely more than nominal. A refrigerator costing upwards of 100 guineas is de- livered and Installed in the home for a 10 guinca down- payinent. On cheaper lines. there is frequently no deposit.

TRADITIONAL STYLE

are lined

Showrooms

with

Continent, the

COMMERCE SECTION

Record Consumption Of United States Electric Power

By Sydney S. Campell, Reuter's Financial Editor.

London, Dec, 14,

Of the series that are so widespread as to provide general indicators of U.S. industry and business, some are quite encouraging: they include the record consumption of electric power and the renewed firmness in paperboard-both very widely used in industry.

Less encouraging are such things as the drop in rail freight-car loadings; the rise in commercial and industrial failures to the higher level since early 1950; last month's drop in cheque clearings, to below the year- ago level, and, since it is so very widely used, the recent price cut in

industrial alcohol.

run

were when

Since mid-September, rall, hanced them in the autumn, so sent importanco warrants: they freight-car loadings have been that this year's comparisons ran are still very important in the running appreciably below the higher in the summer and auto-economy, of course, but not so year-ago Agures, Part of the||matically

lower in the important as they drop may be due to the abnor- autumn. But that is not the they were made into one of the mally mild weather, which has whole story: in the latest week two legs of the Dow Theory, reduced the seasonal demand the loadings were not only 12.3 for example,

per cent below the correspond- for many consumer goods, ran ing from coal to clothing: ing week last year; they were these demands have merely

also 10.7 per cent below the been postponed, there should be corresponding 1951 corresponding beneli later, significant drop.

Another part may reflect the secular shift from rail to rond (trucks).

week,

German Sterling Payments

Frankfurt, Dec. 10. The Bank Deutscher Laender has announced Las German Importers were no longer required to ask for the Bank's

to make 10 MAXO

DEC throu

Merline Londen

To recipients in

the transferable account orea, provided that the countries of origin of the goods for which payment had to be made within the transferable account of sterling area.

were

The Bank said this regulation did not apply to payments for gold in bars, gold coins and semi- Anished and fluished gold products.-Bouter.

YORK

NEW

STOCK

MARKET

tric

higher

Excellent

Wheat Prospects

Washington, Dec. 10,

Reduced wheat prospects of Argentino, contrasted with In creases for the crops of North America, Europe and Australia todoy marked the Agriculturo Department's revision of ita September world brend grain forecast for 1033-54.

The Department confirmed that the world's wheat and rye production appeared likely to reach a near-record 285,000,000 short tons. That would be in between the record eet last year and the previous 1,938-30 high.

The whent forecast wng boosted by 20,000,000 bushels over the September prediction. The revised forecast is for 7,045,000,000 bushels. Wheat represents some 16 per cent of the anticipated world bread grain production, rye, 20 per

cent.

South America is expected to harvest a 316,000,000 bushel wheat crop, most of it in Ar- gentina where the forecast 1 New York, Dec. 8.

for 225,000,000 bushels. With the rails plagued by The traditional year-end rally

ARGENTINA falling traffic, wage demands

in stocks got under way In higly

The Argentine crop, the De and labour unrest, it would be ger today 0

with

the market partment sald, Is less than difficult for the rails Index to

acering its

best gain in two earlier-season prospects and "confirm"

bullish signal months in the most active trad-about 30 per cent below any

tho CARRIER TRAFFICS that might be given by the in- ing since November 30.

1052 harvest." Changes in carrier traffles dustrials index.

Aflew eight consecutive

"Lack of rain during much Another part again is simply (both by land and sca) reflect

dull casiness stocks of the growing season," the de Typically and not surprising sessions of

turned sharply the commodities ly, the Wall Street market re- distor- changes

under partment sald "acents for the the effect of last year's carried. Car-loadings are feel-port of November 25 mentioned the lead of "blue chip" in- reduction. Both harvested deres tons, when a step striker-ing the effect of production that "some rails tended to give dustrials such as General Elec-age, and yields I were bre CA-

cuts in steel and steel products, up the struggle and leave it to

UD 2 points, Du Pont uppected to be be mer and correspondingly en-

those of a cars and appliances, and of the industrials to carry the 24 Bethlehem Steel 14 points

year ago." Black demand for iron ore, main burden

higher. of the recovery."

The Argentine rye crop will coal, export grain and building Perhaps this is not much more

In the absence of new de-

be above average but below materials. Movement of these but It works in the unfortunate velopments to influence the

the record 1952 harvest because materials is described as very direction. Reuter.

attributed the market analysis

rye acreage Was heavily pas poor, as house-building is fall-

upswing to the re-investment of

tured during the winter, ing both seasonally and cyclic-

year-end dividends in the usual

North America's wheat pro- Ally.

pattern for this time of the In contrast with slow sessionsduction is calculated at 1,800,-

000,000 bushels, about 10

per which marked the decline, the cent below 1952.

The trading pace today was stepped

wheat forecast tor up sharply to 1,580,000 shares Europe was boosted to 1,700,-

000,000 bushels from 1,450,000 yesterday.

and that of Asia to 1,610.000.000 bushels. Most Near East countries in creased wheat harvests. Tur- key set new records, with both 276,000,000 bushel whent crop and a 200,000,000 bushel ryc

Free World's

Cotton Output

Washington, Dee. 16. The free world's cotton

United

and

For Australian industry, this in-proving-b-bumper festive-sea- glistening-cars from America.predcminance of dollar cottons. son. After flourishing behind | England and the virtual protection of the side by side with the latest

import restrictions, "it Australian model. Rarely recent pre-ins been spurred into the fully there a waiting list, the excep- to the collec- menu-card

tion being due usually competitive price range by the tight money period of a few customer demanding

un- on up months back and has come isual colour combination. Here this season with the greatest again credit has been easy-40 of secondary industry per cent down and the rest over

three years.

New spoils are being pared for

tors.

For the maitien

voynge

of to

the P and O liner Arcadia

Australia in February a set of range

12 new cards have been paint-products known here.

ed by Mr Strom Gould.

The paintings are of

Aus-

trolian birds, including the

honey lyre bird. the scarlet cater, and the ruinbow bird.

Smaller menus,

to bo

at

used lunch-time. will have

familiar London

ccents

them, London Express vice.

PENINSULAR

оп

Ser-

QUIS H

ON CREDIT

Most Australians will spend Christus in traditional style- in the sun. Sunbathing near the

For many Australians, it will white crash of surf on golden

be a Christus on credit.

the

But the traditional barometer of the nation's prosperity, wool sales, is firmly set fair and on the strength of it com-

beaches, camping under gum trees by a lazy river, these are favourite

of spending ways their summer Christmas.

ENGLISH TOUCH

& ORIENTAL chain

STEAM NAVIGATION COMPANY

R.M.S. "CARTHAGE"

SAILS:

NOTICE TO PASSENGERS

BAGGAGE:

Friday the 18th December at. 12.00 noon for the UNITED KINGDOM via Straits, Colombo, Bombay, Aden and Port Said.

Passengers are requested to send ALL baggage to the Hongkong & Kowloon Wharf Co.'s. Godown at No. 2 Gate, CANTON ROAD ENTRANCE, by NOON on Thursday, 17th December, 1959.

SPECIAL NOTE: With the exception of hand packages carried by passengers themsolvos, ALL BAGGAGE must pass through the Wharf Co.'s Godown for loading on board by ship's slings only. BAGGAGE COOLIES WILL NOT BE PERMITTED TO ENTER THE WHARE

EMBARKATION: Passengers should embark between 9.80 and 11.00 am, on Friday, 18th December.

And

In most homes, there will be the traditional English--louch -the Christmas tree. Taken to the cllies by State forestry commissiont, sold over the counter in varying sizes by stores and suburban greengrocers, firs

pines find a ready sole.

Tubbed, daubed with paint,

whlie Sgg

soap finkes re- presenting snow, gally festoon- ed with brightly wrapped pre- cents, tinsel and Christmas ċtars and bells they take pride of place in the Christmas decora- tion of the average Australlon home-symbol of the link with Britain, a tradition which will be strengthened when the liner Gothic sails into Sydney Har- bour next February, bringing Queen Elizabelh If and the Duke of Edinburgh

their visit to Australia. China Mall Special.

on

MARKED WHALES.

British marine biologists are interested in a small but power- Norwegian whale-catcher which is due to arrive in the

Antarctic ice-pack.

ful

The Thor Dahl is on

Seasonally ndjusted, new

housing starts are about 20 per The Rubber

cent off the peak of last spring.

on

Bro

to

a 011

Markets

No. 1 rubber Jan.

Industrial with a rise of 335

Crop.

muted

in their average the widest since October 15-just above wiped out the declines of the past eight sessions. The market was the broadest since September 15 with 1,192 issues appearing on the tape 608 higher, 202 Africa's wheat crop is csti- lower and 262 unchanged. There

at 190,000,000 bushels, were 33 new highs set, 30 new with the bulk of the increase lows. Leadership was good with over 1952 being in Egypt and -demand centring in US Steel French Morocco.

which rose point on blocks

Australia predicted to pro- 671-674% ranging to thousand shares. duce 176,000,000. bushels of were among the best wheat. The Soviet Union has gainers with improvement rang-made no official statement of

to 33% ing

points

in Amernda its grain expectallon but hos exdividend. Texas and Pacific admitted "large harvest losses," Rallway which

11 the Department slumbed

sald.-United yesterday recovered five points Press. when directors declared a $3.00 dividend extra.

Ex-

48-40 GF-00

The New

York Stock 1,60 buyers 1.08 buyers - change, bond volume was at 165 nom. $3,305,000, -United- Pres--

New York, Dec, 16. Rubber futures today closed 25-35 points higher with sales of 13 contracts.

It remains to be seen whether they can be revived by cusy aut-mortgage money or any other put this crop year probably available devices.. will exceed 1952-53 production Talk of 40-year Federal mort-

Singapore, Dec. 10. of 28,800,000 bales despite pro- gages implies in the first I

The market opened steady on duction declines in Egypt and stanco that some officials

trade enquiry, but sagged little visory Commitee, said in its Pakistan, the International Ad- getting worried..

If it encourages the U.S. afterwards, and there was a oMelal December forecast, housing market it would terrify small trade buring at the close.

Fulure closings: in the-building-soclety officials in Bri- No. 1 rubber per id. Jan, A million-bale rise

6796-5771 Feb. 5724-60 States colton prospects, taln.

March 6714-59 plus significant increase In It is incongruous for the U.S., India and Uganda," the Com- which claims the world's speed No. 2 rubber per lb. Jan.

No. 3

5542-554 52-5214 mittee indicated. "should over- record in replacing its buildings, No. 4

of | Apel rubber unbaled to bid also for the record balance the declines."

"A continued, high level of granting the longest mortgages Blanket crepe

No. 1 pale crepe was predicted for

them.

United Prem. production

In the era which led up Argentina and Peru, but early

re- the Great Depression, skyscrap AMSTERDAM MARKET reports indicated "possible duction" of the Brazilian crop in ers were built by mortgaging

Amsterdam, Dec. 10. cach storey in turn so as to raise important Sao Paulo stale.

The rubber market was quiet, The free world's carry-over the money to pay for the next

Future closings (in guilders per stocks, the Committee said, should storey. be between 2,000,000

Al their recent rate of house-kilogram):- 3,000,000 bales above those les building the Americans would No. & rubber Jan. June and there is a much greater replace their present stock of No. 3 rubber Jan.

houses in something less than No. 1 crepe rubber Jan. 175 nom HIGHER RATE

40 years, and it is generally de- the United States sirable that a mortgage In Except

NEW YORK MARKET the and Canadá,

house should not last longer the house. Yet Federal said, current collon consumption than is running at a significantly housing authorities are actually considering proposals to extend higher rate than a a year ago.

"Cetion consumption in Japan mortgage payments on lower

fearsome levels," the cost homes over the Is again at

said. "Domestic 40-year period. Committee demand for yarn and textile in this market continues strong and the export outlook is re latively favourable as compared

other countries." to many

The textile gullock in the and United Kingdom, France the Federal Republic

of Germany, the Committee said, is encouraging and cotton con cumplien so far is significantly higher than over the corres- Nothing could be better than 1 pence per lb. Prices: ponding period in 1952-63. The for U.S. business to consolidate Rettlement house term: trend is in the same direction in at a normal non-inflated level an Feti most of the other European of high prosperity, preparatory March countries with the major excepto a new non-inflationury nd- Jan/March tion of Italy where there the vance in line with the rapidly Apri/Fune July/Bept. und

olher ituation is still serious.

rising population

General markets, ell basis, "In spite of

of dificulties arising factors of genuine economic pee. Jan. Feb. out of increaped stock accumula growth.

One may have good hope that Estate crepe thick tions of yarn and textiles, cotton comsumption in India remains it will turn out that way. But, at a high level but the govern- remembering what happened in ment has been obliged to take 1049 when the upswing In the to prevent US, business curves merely remedial measures enforced curtailment of produc paused, it is disconcerting that

certain Mion In

districts, the change from abnormal down United PregS,

to normal brings declines of 10 per edn and more in rail car loadings not only from last ye

Spot No. 1 Rss were quoted at 20% cents per jb. Future closings: March May

July

20.71-75

20.000

70.850

Sept.

20.05

Dec.

20.03

United Press,

LONDON MARKET

London, Dec. 10.

BACK TO NORMAL Some rail officials think that traffics are merely gelling back to normal, after three years o

movements abnormally heavy engendered by the defence which could not in boom,

any case continue. This is a fairly general condition, which Woll The rubber market was quiet Street and most other markets with No. 1 spot Rss quoted at may have already discounted.

GRAINS IN but also from 1951-together

CHICAGO

with a forecast that in 1954. they may be lower than in

1908, though not by the recent

margins,

totals

No. 1 spot Ras

thin

177-171

inquated unguoted -United Press.

New York

Sugar Market

New York, Dec. 14. World No. 4 sugar futures 10- This also is a fairly general day close 1-4 points lower with condition. Throughout almost sales of 57 contracts. the whole range of US. busi-

Domestic: No. O sugar futures nesa, calendar-year 1953

closed 2 points higher with sales sa date are well ahead of 1932 of 214 contracts, and most of the cumulativis

futures eased World that totals will end tho year way; since it is only recently liquidation as traders awaited 206-2051) 206-203 (generally, as in the ralls from developments at the impending about mid-September) that cur meeting of the International rent 1953-curves on the down Sugar Council at London on crossed the year ago curves on Dec. 16. the up. But many series will

Domestic dylures ruled steady start 1954 well below their Incompany

with the starting levels In 1959; and pro markcet ilkely to stay, below into the Control No. 4. (nd) Fecond half of the year at Jan, tics, if not for the whole year... March

*1971

10014

•

Corn, No. 1, ye)

Chicago, Doc, -10. Prices per bushel, in cente

Closing Prices! Dec. 18 Dec. 10 Wheat, No, a red

204 Spot

2011 Dec. 2011

2039%(2) Marcit MEY July Sept

201

Boot

0

Dec,

March May July' Sept,

March

March

@pot

whale-marking expedition, ar- ranged by British weglon institutions.

and Nor-

Numbered markers will be fired from 12-bore shot- sup The markers jodge, under the blubber, and a reward is sirered for their return when the whale is killed,

Ton pro-war markers were:

whales "thli recovered from year. They, tofl of whole mikra?: liani, and distribution: --London Exproks Service,"

ANACHRONISM

27 An unimiungla technicality is that the rain tend to have, vla Wall Sirpeta disproportionate ofilience on U.§, business senti-

-through an ""anachron- lam, the béhayibur of rails in- day Mon – Wall Street: "attracts

Cubo

The American Stocks Ex change volume was at 440,000 shares.

World Cotton

Markets

New fork, Dec. 18. Cotton future.. today -restedl

Dow Jones closing averages on firmer ground for the third

20 Talls

were;

39 Industrials

15 utiles

06 locks

40 bands

Comm. future price index

row, although

282.87 overall activity was on the quiet

session in a

00.97

62.61 side.

107.20

07.18

105,03

-Unlied Press.

HONGKONG SHARE MARKET

Gains ranged up:to near $1 a bale before the market ran into

cnough

opposition in the form of

realising and hedge selling to curb the upturn.

Background factors affecting included pro-

market of acreage.

ducers

marketing controls for the next Crop and the anticipation of heavy unding under the

interest

cooled

Joan programme.

ressive buying later with know- ledge that the Administration bas indicated it will ask for a 3,000,000 Increase in the acreage

(From Our Correspondent) allotments when Congress con-

Business done on the Stock Exchange this morning amounted Noon quotations to $377,120. and the morning's transactions: SHARES DUYERS SELLERS BALMS

BANKS

IK Bank Fast Asla INSURANCES

Union Underwriters

SHIPPING

Waterboa

1000 1050

27 9 175

945 50 300 475

SEN NAVNG KA735

DOCKS, ETC.

K. Wharf

Dock

Provident

10.50

213140 800 @ 21.30 200

Trid.... 12.70 12.00 2500 @ 12:30 Provident (New ...... 11

venes in January.

Dullness in the textile market Unless was another handicap. good buyers stop-up commit- ments very soon, cotton traders were uneasy lest the mills begin extend present curtalled operations.

The Census Bureau reported domestle consumption of raw cotton in November at 804,900 balos. The figure was slightly below expectations, and com- pared with 752,987 bales con sumed In November last year.-- United Press.

Dec.

Spot

000 G 11.30

March

1800 F 12

May

Wheelock

# 3.10

July

Oct

on

#

LAND, TC.

HK Hotel HIC Land Beally

RU. UTILITIES

Tram

Star Jerry.

29 Marc

7736

1.80 1.9235

MAY

28.10 1814

Spot March

1.50 200 @ 1335) May

raw

C. Lt (N)

Elec. 1916 10.00 Sandakan IN

Fuly

Dee March

5000 a $74 May

· Prem

ممم

INDUST

NEW YORK New York, Dec. 10.

Closing Prices Dec. 15 Dot. 10

53.400 33.401 31.08-99

2351

33.58 30.20 1033,05-00

22/1

United Press.

52.43

51.42 32.48

NEW ORLEANS

New Orleans, Dec. 10.

Closing

Pricen

Dec. 18 Dec. 16-

83.01-02

2301%

23.00

$3.07-08

100/69420

Afriled' ProKU,

Exchange Rates

Business was done in the foest 2000 64 84:30 | urloll200 exchange i

0 20.00 2000 i 3040 | morning, at "the poslowing rateswa

Uja,” colas" (per (31) Sterling, not0.

vford 1 *Textile Corp 8.80 0.00 2500 „7" 8-10 1900: 4.00 MIBGELLANEQUR

Indoonian frontist? (pep

Watson